BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Bought by New England Research & Management Inc.

New England Research & Management Inc. lifted its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 50.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,625 shares of the biotechnology company’s stock after buying an additional 4,550 shares during the quarter. New England Research & Management Inc.’s holdings in BioMarin Pharmaceutical were worth $958,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Stifel Financial Corp increased its holdings in shares of BioMarin Pharmaceutical by 9.9% during the 4th quarter. Stifel Financial Corp now owns 49,676 shares of the biotechnology company’s stock valued at $4,790,000 after purchasing an additional 4,468 shares in the last quarter. Public Employees Retirement Association of Colorado raised its position in shares of BioMarin Pharmaceutical by 5,430.4% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 22,011 shares of the biotechnology company’s stock worth $2,122,000 after acquiring an additional 21,613 shares during the period. Lighthouse Investment Partners LLC purchased a new stake in shares of BioMarin Pharmaceutical during the 4th quarter worth about $3,916,000. Avoro Capital Advisors LLC grew its position in shares of BioMarin Pharmaceutical by 11.7% during the 4th quarter. Avoro Capital Advisors LLC now owns 4,300,000 shares of the biotechnology company’s stock valued at $414,606,000 after acquiring an additional 450,000 shares during the period. Finally, Bridgewater Associates LP increased its stake in shares of BioMarin Pharmaceutical by 18.3% in the 4th quarter. Bridgewater Associates LP now owns 190,970 shares of the biotechnology company’s stock valued at $18,413,000 after purchasing an additional 29,576 shares in the last quarter. 98.71% of the stock is owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Trading Down 0.8 %

Shares of BioMarin Pharmaceutical stock traded down $0.55 during mid-day trading on Monday, hitting $68.96. The stock had a trading volume of 839,628 shares, compared to its average volume of 1,888,837. The firm has a 50-day moving average of $82.55 and a two-hundred day moving average of $83.17. The firm has a market cap of $13.09 billion, a P/E ratio of 64.46, a price-to-earnings-growth ratio of 0.80 and a beta of 0.31. The company has a quick ratio of 1.95, a current ratio of 3.05 and a debt-to-equity ratio of 0.11. BioMarin Pharmaceutical Inc. has a 12-month low of $67.75 and a 12-month high of $99.56.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its earnings results on Monday, August 5th. The biotechnology company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.39. BioMarin Pharmaceutical had a return on equity of 6.91% and a net margin of 9.91%. The company had revenue of $712.03 million during the quarter, compared to analysts’ expectations of $660.51 million. Sell-side analysts forecast that BioMarin Pharmaceutical Inc. will post 2.39 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have issued reports on BMRN shares. Scotiabank lowered their price target on BioMarin Pharmaceutical from $95.00 to $78.00 and set a “sector perform” rating on the stock in a research report on Tuesday, September 17th. Bank of America decreased their target price on BioMarin Pharmaceutical from $130.00 to $115.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. Royal Bank of Canada reduced their price objective on shares of BioMarin Pharmaceutical from $85.00 to $80.00 and set a “sector perform” rating for the company in a research report on Friday. Canaccord Genuity Group reaffirmed a “hold” rating and set a $93.00 price objective on shares of BioMarin Pharmaceutical in a report on Friday, September 13th. Finally, Wells Fargo & Company cut their target price on shares of BioMarin Pharmaceutical from $115.00 to $90.00 and set an “overweight” rating for the company in a research note on Tuesday, September 17th. Seven investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $97.32.

About BioMarin Pharmaceutical

BioMarin Pharmaceutical Inc develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Vimizim, an enzyme replacement therapy for the treatment of mucopolysaccharidosis (MPS) IV type A, a lysosomal storage disorder; Naglazyme, a recombinant form of N-acetylgalactosamine 4-sulfatase for patients with MPS VI; and Kuvan, a proprietary synthetic oral form of 6R-BH4 that is used to treat patients with phenylketonuria (PKU), an inherited metabolic disease.